Benzinga's M&A Chatter for Monday October 19, 2015

Loading...
Loading...
The following are the M&A deals, rumors and chatter circulating on Wall Street for Monday October 19, 2015:
Microsemi Proposes to Acquire PMC-Sierra for $11.50/ShareThe Offer
:

Microsemi Corporation
MSCC
announced Monday, that it submitted an offer to acquire PMC-Sierra, Inc
PMCS
for $11.50 per share in cash and stock. PMC shareholders will receive $8.75 in cash and 0.0736 of a share of Microsemi common stock for each share of PMC common stock held at the close of the transaction for an implied total transaction value is approximately $2.4 billion. Microsemi believes its proposal constitutes a "Superior Proposal" to PMC's merger agreement with Skyworks
SWKS
. Skyworks offered $10.50 per share in cash on October 6. PMC-Sierra closed at $11.72 on Monday, a gain of 14.75%.
Time Inc Acquires HelloGiggles; Terms Not DisclosedThe Deal
:

Time Inc.
TIME
announced Monday, the acquisition of women's social media website HelloGiggles, co-founded by actress Zooey Deschanel. Terms were not disclosed, but
Hollywood Reporter
earlier had reported a sale price of $30 million. Time closed at $18.69, down $0.18.
WEX to Acquire Electronic Funds Source for ~$1.1B In Cash, Plus 4M SharesThe Deal
Loading...
Loading...
:

WEX Inc.
WEX
announced Monday, it has agreed to acquire Electronic Funds Source LLC for approximately $1.1 billion in cash, plus 4 million shares of common stock to be issued to investment funds affiliated with Warburg Pincus, EFS' current owner. Wex closed at $96.12 Monday, up 4.35%.
Western Digital Said to be in Late Stage Talks to Acquire SanDiskThe Rumor
:

SanDisk Corp.
SNDK
is reportedly in advanced talks to sell itself to Western Digital Corp.
WDC
, with deal being announced a soon as this week, according to sources as reported by
Bloomberg
on Monday. Last week,
Blolomberg
reported that SanDisk had hired a bank to assist in a potential sale, following approaches from Micron Technology Inc.
MU
and Western Digital. SanDisk closed at $72.00 Monday, and traded as high as $81.64 after-hours.
Loading...
Loading...
Posted In: NewsRumorsM&AMovers
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...